Palistar Capital Expects to Provide Growth Financing in Excess of $1 Billion for Second-Largest Private Tower Company in the U.S.
LITTLE ROCK, Ark., May 4, 2023 /PRNewswire/ — Harmoni Towers (“Harmoni”), a portfolio company of Palistar Capital LP (“Palistar”), an alternative asset manager focused on mission-critical communications infrastructure, today announced the appointment of Yannis Macheras as Chief Executive Officer (“CEO”) of Harmoni, effective immediately.
Mr. Macheras was previously CEO of Parallel Infrastructure (“Parallel”) and joined Harmoni in November 2022 when Harmoni acquired Parallel. Mr. Macheras is a well-known leader in the telecommunications sector, having held senior roles at various public and private infrastructure companies over the past two decades.
Harmoni is the second largest privately-owned wireless tower owner in the U.S. and one of the nation’s most active tower builders, with over 2,000 sites constructed or in development. Harmoni’s mission-critical communications infrastructure provides much needed coverage and capacity solutions for a diversified group of mobile network operators and other end-users. Guided by its highly regarded team, Harmoni has established and maintains a robust ecosystem of vendors and partners that deliver carrier-grade solutions across the U.S.
Omar Jaffrey, Managing Partner and Founder of Palistar, said, “We are delighted to have Yannis in his new role as CEO of Harmoni. Palistar continues to expect, over time, to deploy in excess of $1 billion via equity and debt financing into Harmoni in order to promote the expansion of the business. Everyone looks forward to his stewardship as we continue to grow the business through best-in-class service to our end customers and meaningful partnerships with our landlords, the communities in which we provide infrastructure and our trusted supply chain. Yannis brings a unique understanding of the communications infrastructure business and is well known as a carrier trusted leader and visionary in the wireless tower industry.”
Mr. Jaffrey continued, “I thank Lawrence Gleason for his leadership of Harmoni and growing the business to its current size and scale and ensuring its unrivaled reputation in the industry. We look forward to working with Lawrence on Palistar’s future growth and strategic opportunities, including at Harmoni, leveraging his experience and insight as we execute on our business plans and evaluate new investment opportunities across the communications infrastructure ecosystem.”
Mr. Macheras said, “I am excited to lead Harmoni’s talented and experienced team of dedicated professionals as they support and enhance our customers’ networks, which pave the information superhighway we rely on in all aspects of our lives. I’m also eager to work with Omar and the entire Palistar organization to collaborate on new opportunities for Harmoni and Palistar, including the efficient deployment of capital to complement Harmoni’s organic growth plans. Utilizing the combined talent of both organizations, we have a unique opportunity not only to grow Harmoni’s core business, but also to explore the diversification of Palistar’s suite of offerings as we drive value for customers, partners and investors.”
Harmoni Towers, a portfolio company of Palistar Capital LP, owns, operates, and builds mission-critical communications infrastructure. The firm focuses on the acquisition and construction of communication networks and works with customers in a wide variety of situations, including monetizing existing assets and new site development. Harmoni collaborates with wireless operators to deploy their networks and build assets by providing the required investment capital. Harmoni Towers is one of the most active tower builders in the U.S., with well over 2,000 sites constructed or in development. Palistar acquired Harmoni in June 2020 from Uniti Group and Harmoni acquired Parallel Infrastructure from Apollo Global Management in November 2022. For details, please visit https://harmonitowers.com.
Palistar Capital LP is an alternative asset manager led by Managing Partner and its Founder, Omar Jaffrey, focused on communications infrastructure. The firm seeks to invest through direct asset ownership as well as by developing innovative financing solutions to complex problems for leading global communications companies. To learn more about Palistar, visit www.palistar.com.